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Oil Prices Falter As Greenback Strengthens
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EIA reports a nearly 8 million-barrel decline in U S crude supplies
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Oil prices end higher with U S crude inventories down a 5th straight week
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Oil prices finish higher as U.S. crude, gasoline supplies decline MarketWatch 1 hr ago
FUTURES MOVERS © Johannes Eisele/Agence France-Presse/Getty Images Storage in focus.
Oil futures finished higher on Wednesday, as price support from across-the-board declines in U.S. petroleum inventories outweighed concerns over the prospects for a return of Iranian crude supplies to the global market.
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A “full house of draws from this week’s inventory report” supported prices, said Matt Smith, director of commodity research, at ClipperData.
“Crude inventories saw a modest draw, helped by ongoing strength in exports, a tick higher in refining activity, and a dip in imports,” he said in emailed commentary. “Higher implied demand for both gasoline and distillates encouraged a draw to both.”